Thanks to recent inflation (6.2% over the last 12 months), the IRS has increased the contribution limits for some types of retirement accounts. Unfortunately, the IRA limits did not increase, but anyone with a 401(k) will be able to contribute more in salary deferrals. Health Savings Account (HSA) limits are also increasing.  

401(k) 

• Salary Deferrals: $20,500 (increase of $1,000) 

• Catch-up contributions: $6,500 (total $27,000 salary deferrals for those 50 or over) 

• $61,000 total employer and employee contributions ($67,500 if 50 or over)  

IRA/Roth IRA 

• Unchanged from 2021 

• $6,000 contribution limit 

• Additional $1,000 for catch-up contributions if you are 50 or over 

Health Savings Account (HSA) 

• Individual contribution limit: $3,650 (an increase of $50) 

• Family contribution limit: $7,300 (an increase of $100) 

• Catch-up contributions for 55 and older $1,000 per account